SHIFT4GOOD completes its first closing at more than €100m to invest in sustainable mobility start-ups

Shift4Good, the first global independent impact venture capital fund dedicated to sustainable mobility, announces the 1st closing of Shift4Good Fund 1 with major institutional and corporate investors in the mobility sector based in Europe and Asia, including Renault Group, the European Investment Fund (EIF) under its new European investment program InvestEU and Bpifrance. It also counts among its investors various mobility players (major dealers or equipment manufacturers) as well as top-tier Family Offices and entrepreneurs committed to contributing to the growth of sustainable mobility.

At a time when the transport of people and goods has a carbon impact of 8 billion tonnes each year, Shift4Good focuses on sustainable mobility and the circular economy, with a fundraising target of €300 million. This investment fund, classified as «Article 9», meets the strictest sustainability criteria in the European taxonomy.

Co-founded by Matthieu de Chanville, Sébastien Guillaud, Yann Marteil and Thierry de Panafieu, four investment professionals expert in venture capital and mobility, Shift4Good is an independent management company, approved by the French Financial Markets' Authority (“AMF”), with offices in Paris and Singapore.

Shift4Good provides the best entrepreneurs in the sustainable mobility sector with a growth platform that enables them to become world champions: in-depth sector knowledge, financing coupled with tailor-made support leveraging its corporate investors and its vast network of experts and partners, all integrated in a collaborative ecosystem, fully mobilized to provide answers to the climate emergency.

Shift4Good will invest in around thirty start-ups over the next five years in Series A and B, two-thirds in the European Union and one-third in the rest of the world, particularly in South- East Asia.

Those investments aim at accelerating their development, enable them to become international champions and thus contribute, through their innovations, to reducing the carbon footprint of the mobility sector, the highest CO2 emitting sector globally. The first two investments will be announced in October.

Paolo Gentiloni, European Commissioner for the Economy, says: “InvestEU makes an important contribution to innovation in sustainable mobility by bringing out new carbon-neutral modes of transport. I am delighted that, through this investment, InvestEU is supporting the decarbonisation of a sector which has a crucial role to play in ensuring the green transition”.

Yann Marteil, Co-Founder & Managing Partner of Shift4Good reacts: “Shift4Good is very proud of this closing and to have such prestigious and committed partners. Beyond our 3 major investors (Renault Group, Bpifrance, EIF), we appreciate the support of equipment manufacturers like Motul or leading players in Automotive Services such as major French and European dealers. This first closing will allow us to launch our support programs for entrepreneurs committed to developing sustainable mobility solutions, making it possible to contribute to reversing the climate trend (knowing that almost 30% of CO2 emissions in Europe come from the mobility). The abundance and quality of the deal flow illustrate the existence of bold and profitable solutions to offer sustainable mobility”.

Luca de Meo, CEO of Renault Group says: “The creation of Software République had already demonstrated our desire to work in an open ecosystem and in collaboration with start-ups that innovate to create the mobility of tomorrow. Renault Group's commitment to Shift4Good reinforces this momentum. Our combined expertise in carbon-free mobility and the circular economy will enable us to support high-potential projects, particularly in France. Alongside renowned players such as Bpifrance and FEI, we will come to accelerate innovations at the service of the energy transition”.

Luc Julia, Chief Scientific Officer of Renault Group, in charge of the Software République, and sponsor of Renault Group investment in Shift4Good, is adding: “Renault Group is particularly proud to contribute to the launch of Shift4Good. Together, we will allow entrepreneurs to succeed, by leveraging corporate investors and a wide network of experts and business partners, in a collaborative ecosystem – as with the Software République – and this way address the climate challenge with bold solutions”.

Benjamin Paternot, Executive Director of Bpifrance, in charge of the Funds of Funds activity adds: “Bpifrance, as a Climate Bank, is proud to contribute to the launch of the Shift4Good fund which will provide innovative sustainable mobility start-ups with the means necessary to finance their growth and become world champions in the service of the ecological and energy transition. Since 2017, Bpifrance has subscribed €400 million in funds intended to support the growth and transformation of companies that play a key role in responding to the climate emergency”.

Alain Godard, Managing Director of the European Investment Fund adds: “The EIF and the EIB Group are fully mobilized to ensure the success of the commitments of the European Green Pact and the new InvestEU program. It is absolutely essential that players like Shift4Good can find financial partners in Europe capable of supporting them on a massive scale in these innovative and risky projects for large-scale economic transformation”.

About Shift4Good

Shift4Good is an impact venture capital fund dedicated to sustainable mobility and the circular economy. It aims to decarbonise the transport sector for goods and people, which alone accounts for around 20% of global CO2 emissions. Backed by top-notch institutional financial investors, but also major mobility players, Shift4Good has built a unique model to identify and support the best entrepreneurs, those capable of developing and deploying the radical innovations required by the climate emergency. Shift4Good has offices in Paris and Singapore.

About Renault Group

Renault Group is at the forefront of a mobility that is reinventing itself. Strengthened by its alliance with Nissan and Mitsubishi Motors, and its unique expertise in electrification, Renault Group comprises 4 complementary brands - Renault, Dacia, Alpine and Mobilize - offering sustainable and innovative mobility solutions to its customers. Established in more than 130 countries, the Group has sold 2.7 million vehicles in 2021. It employs nearly 111,000 people who embody its Purpose every day, so that mobility brings people closer. Ready to pursue challenges both on the road and in competition, Renault Group is committed to an ambitious transformation that will generate value. This is centred on the development of new technologies and services, and a new range of even more competitive, balanced and electrified vehicles. In line with environmental challenges, the Group's ambition is to achieve carbon neutrality in Europe by 2040.

About Bpifrance

Bpifrance is the French national investment bank. It finances businesses – at every stage of their development – through loans, guarantees, equity investments and export insurances. Bpifrance also provides extrafinancial services (training, consultancy) to help entrepreneurs meet their challenges (innovation, export…).

About EIF

The European Investment Fund (EIF) is part of the European Investment Bank Group. Its central mission is to support Europe's micro, small and medium-sized enterprises (SMEs) by helping them to access finance. The EIF designs and develops venture and growth capital, guarantees and microfinance instruments which specifically target this market segment. In this role, the EIF fosters EU objectives in support of innovation, research and development, entrepreneurship, growth, and employment.

About InvestEU

The InvestEU programme provides the European Union with crucial long-term funding by leveraging substantial private and public funds in support of a sustainable recovery. It also helps mobilise private investments for EU policy priorities, such as the European Green Deal and the digital transition. The InvestEU programme brings together under one roof the multitude of EU financial instruments currently available to support investment in the European Union, making funding for investment projects in Europe simpler, more efficient and more flexible. The programme consists of three components: the InvestEU Fund, the InvestEU Advisory Hub, and the InvestEU Portal. The InvestEU Fund is implemented through financial partners who will invest in projects using the EU budget guarantee of €26.2 billion. The entire budgetary guarantee will back the investment projects of the implementing partners, increase their risk-bearing capacity and thus mobilise at least €372 billion in additional investment.